Utilizing the ideas presented in class and in the book Good to Great, your assignment is to prepare a
4-6 page strategic plan (12 pt. font, line spacing 1.0 or 1.5) for your target organization that will accomplish its strategic intent within the next 5 years. This may build on the first two written assignments, or you can choose a different organization and set of management priorities. If you stay with the same organization, your plan must expand on the initiatives already proposed in the earlier assignments. All plans should contain these four elements:
A. Begin with a summary statement that describes in both qualitative and quantitative terms your vision for the end state position of your organization (e.g., size, profitability, market share, rank, geographic coverage, product scope, etc.), using a time horizon of five years.
B. Describe the hedgehog concept around which you will build your successful strategy. State it in a single sentence, printed in bold. Be sure it answers the three questions posed by Collins.
C. Identify the specific pillars or management initiatives in your strategy for getting there. Explain how you intend to implement these planks, with staffing requirements, calls for action, use of cross functional teams, target dates and budget considerations. For example, your pillars might be:
· Offer new product lines or services
· Attack new distribution channels
· Reach new domestic or international markets
· Extend geographic coverage
· Strengthen core competencies
· Develop new or expanded resources
· Apply technology accelerators
· Tighten cost structure
D. Establish key performance goals so it will be clear whether or not the plan has been achieved. Cite the most single critical “economic denominator” for measuring the company’s progress.
The target audience for this plan should be the company’s management team and/or board of directors. Avoid jargon and make all technical issues understandable to the non-technical people on your board and within the management team. Assume that the organization’s directors are sophisticated executives who want any proposals backed up with facts and analysis, not unsupported claims and puffery. Put this plan in a form where you would be proud to submit it to the CEO of the subject company. If the plan is targeted at your current employer, you may even want to do that. It can’t hurt, and they could decide to implement your ideas.
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